Intel Stock Down 21%: Inside The July 2026 Semiconductor Selloff https://t.co/x5JaAAes0z (Photo: SOPA Images/LightRocket via Getty Images) https://t.co/l2tTO8C38c ...

This is Guru Focus First Look, your morning market brief for Wednesday, July 8th. Here are the stories driving markets today. Oil prices surged more than 6% overnight as US military strikes against Iran disrupted a recent ceasefire, pushing Brent crude above $78 per barrel.The escalation in Middle East tensions sent global equity markets lower with energy and defense stocks seeing heightened volatility. The spike in oil prices raised concerns about inflation and supply chain disruptions across multiple sect ...

This is Bloomberg Businessweek daily reporting from the magazine that helps global leaders stay ahead with insight on the people, companies, and trends shaping today's complex economy, plus global business, finance and tech news as it happens. Bloomberg Businessweek daily with Carol Massar and Tim Stent event live on Bloomberg Radio, Television and Bloomberg Originals. And a very good afternoon, everybody across Bloomberg platforms, Carol Massar along with Emily Griffith or she is again, of course, in for T ...

Market Performance and Sector Rotation - Major equity indices experienced a sell-off, with the Dow Jones Industrial Average down 0.25% (140 points), the S&P 500 down 0.5% (34 points), and the Nasdaq 100 closing 1.8% lower[6][7] - The Russell 2000 index declined by 0.9% (27 points), while the broader S&P 500 saw 284 stocks gain ground against 218 decliners[7] - Market activity reflected a rotation within the technology sector, with investors shifting capital between different pockets of tech rather than a broad-based trend[5][16] - Treasury yields experienced a parallel shift upward, rising approximately 7 basis points for both the 2-year and 30-year notes, driven by rising oil prices and Middle East geopolitical concerns[19][20] Corporate Developments and Individual Stock Movers - Cognizant (CTSH) shares rose 6.2% following an expanded partnership with Google Cloud, with plans to deploy Gemini Enterprise to 100,000 associates and certify 10,000 professionals[9][10] - Fiserv (FI) stock climbed 1.8% amid reports that major U.S. banks, including JPMorgan Chase and Wells Fargo, are exploring the acquisition of a debit network owned by the company[12] - Agios Pharmaceuticals (AGIO) shares jumped approximately 17-18% following FDA acceptance of its supplemental new drug application for sickle cell disease[13][14] - Intel (INTC) shares fell 10% following Samsung Electronics' disappointing preliminary results, while Rivian (RIVN) tumbled 18% after announcing a 75 million share offering to raise approximately $1.5 billion[15][17][18] Industry Trends and Economic Outlook - The semiconductor sector faced significant volatility, with the Philadelphia Semiconductor Index (SOX) declining as investors reacted to mixed performance across chipmakers[3][16] - DeBeers implemented deep cuts to official diamond prices to align more closely with the secondary market, reflecting structural shifts in the industry caused by the rise of lab-grown stones[24][25][26] - Nobel Prize-winning economist Christopher Pissarides expressed a contrarian view on AI, warning that it may not trigger a new era of rapid productivity growth comparable to the 1980s and 1990s, noting that 40% of U.S. and U.K. jobs may remain largely unaffected[21][22][23]